NC+: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
NC+
NACE 26.110, Manufacture of computer, electronic and optical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€463,196
2024 · €190,062+€273,134
Equity
€1.3m
2024 · €1.2m+€88,860
Cash
€321,151
2024 · €364,913-€43,762
Balance sheet total
€3.7m
2024 · €3.5m+€163,015
Largest movements
Assets
- Tangible fixed assets +€119,335
up €119,335 (+10.3%), from €1.2m to €1.3m
of which Furniture and vehicles: +€135,341
- Receivables within one year +€87,755
up €87,755 (+6.3%), from €1.4m to €1.5m
of which Trade receivables: +€231,048
- Receivables after one year -€61,438
no longer reported in 2025 (was €61,438)
- Cash -€43,762
down €43,762 (-12.0%), from €364,913 to €321,151
mainly Contributions, distributions and other (-€374,335) and Investment in fixed assets (net) (-€270,348)
Equity and liabilities
- Reserves +€88,960
up €88,960 (+11.0%), from €811,472 to €900,432
of which Tax-exempt reserves: +€244,180
- Tax, wage and social debts +€64,716
up €64,716 (+31.9%), from €202,566 to €267,282
of which Taxes: +€51,251
- Short-term financial debts -€50,000
down €50,000 (-11.1%), from €450,000 to €400,000
- Other debts +€48,138
up €48,138 (+488.1%), from €9,862 to €58,000
- Trade debts -€45,031
down €45,031 (-4.6%), from €977,178 to €932,147
Income statement
- Gross operating margin +€492,850
up €492,850 (+27.2%), from €1.8m to €2.3m
- Taxes +€71,673
up €71,673 (+70.5%), from €101,652 to €173,325
- Staff costs +€67,992
up €67,992 (+5.1%), from €1.3m to €1.4m
- Other operating charges +€58,501
up €58,501 (+287.6%), from €20,343 to €78,844
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€190,062
Gross operating margin
+€492,850
Staff costs
-€67,992
Depreciation
-€9,000
Write-downs
-€3,125
Provisions
+€2,144
Other operating charges
-€58,501
Financial income
-€4,737
Financial charges
-€6,832
Taxes
-€71,673
Result 2025
€463,196
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€632,307
Investment
-€306,347
Financing
-€369,722
Cash 2024
€364,913
From operations (derived)
+€632,307
Net result for the year
+€463,196
Depreciation
+€147,679
Receivables after one year
+€61,438
Stocks and contracts
-€10,859
Receivables within one year
-€87,755
Deferred charges and accrued income
-€10,933
Smaller working-capital items
+€1,718
Trade debts
-€45,031
Tax, wage and social debts
+€64,716
Other debts
+€48,138
Investment (derived)
-€306,347
Investment in fixed assets (net)
-€270,348
Current investments
-€36,000
Financing
-€369,722
Debts after one year
+€44,685
Current portion of long-term debt
+€9,928
Short-term financial debts
-€50,000
Contributions, distributions and other
-€374,335
Cash 2025
€321,151
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,499,756 | €3,662,771 | +€163,015 | +4.7% |
| Fixed assets | 21/28 | €1,294,112 | €1,416,780 | +€122,668 | +9.5% |
| Tangible fixed assets | 22/27 | €1,157,939 | €1,277,274 | +€119,335 | +10.3% |
| Land and buildings | 22 | €865,541 | €816,880 | -€48,661 | -5.6% |
| Plant, machinery and equipment | 23 | €34,050 | €31,561 | -€2,489 | -7.3% |
| Furniture and vehicles | 24 | €78,604 | €213,946 | +€135,341 | +172.2% |
| Leasing and similar rights | 25 | €179,744 | €214,887 | +€35,143 | +19.6% |
| Financial fixed assets | 28 | €136,173 | €139,506 | +€3,333 | +2.4% |
| Current assets | 29/58 | €2,205,645 | €2,245,991 | +€40,346 | +1.8% |
| Amounts receivable after more than one year | 29 | €61,438 | - | -€61,438 | |
| Other amounts receivable | 291 | €61,438 | - | -€61,438 | |
| Stocks and contracts in progress | 3 | €303,565 | €314,424 | +€10,859 | +3.6% |
| Stocks | 30/36 | €224,563 | €228,231 | +€3,668 | +1.6% |
| Contracts in progress | 37 | €79,002 | €86,193 | +€7,191 | +9.1% |
| Amounts receivable within one year | 40/41 | €1,397,350 | €1,485,106 | +€87,755 | +6.3% |
| Trade receivables | 40 | €1,126,683 | €1,357,730 | +€231,048 | +20.5% |
| Other amounts receivable | 41 | €270,668 | €127,375 | -€143,292 | -52.9% |
| Current investments | 50/53 | €69,000 | €105,000 | +€36,000 | +52.2% |
| Cash at bank and in hand | 54/58 | €364,913 | €321,151 | -€43,762 | -12.0% |
| Deferred charges and accrued income | 490/1 | €9,379 | €20,311 | +€10,933 | +116.6% |
| Total equity and liabilities | 10/49 | €3,499,756 | €3,662,771 | +€163,015 | +4.7% |
| Equity | 10/15 | €1,198,182 | €1,287,042 | +€88,860 | +7.4% |
| Contributions | 10/11 | €300,080 | €300,080 | = | 0.0% |
| Capital | 10 | €300,080 | €300,080 | = | 0.0% |
| Issued capital | 100 | €300,080 | €300,080 | = | 0.0% |
| Reserves | 13 | €811,472 | €900,432 | +€88,960 | +11.0% |
| Non-distributable reserves | 130/1 | €30,008 | €30,008 | = | 0.0% |
| Legal reserve | 130 | €30,008 | €30,008 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €244,180 | +€244,180 | |
| Distributable reserves | 133 | €781,464 | €626,244 | -€155,220 | -19.9% |
| Investment grants | 15 | €86,630 | €86,531 | -€99 | -0.1% |
| Provisions and deferred taxes | 16 | €63,115 | €63,833 | +€718 | +1.1% |
| Provisions for liabilities and charges | 160/5 | €63,115 | €63,833 | +€718 | +1.1% |
| Other liabilities and charges | 164/5 | €63,115 | €63,833 | +€718 | +1.1% |
| Amounts payable | 17/49 | €2,238,460 | €2,311,896 | +€73,436 | +3.3% |
| Amounts payable after more than one year | 17 | €443,415 | €488,100 | +€44,685 | +10.1% |
| Financial debts | 170/4 | €443,415 | €488,100 | +€44,685 | +10.1% |
| Amounts payable within one year | 42/48 | €1,792,545 | €1,820,295 | +€27,750 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €152,939 | €162,866 | +€9,928 | +6.5% |
| Financial debts | 43 | €450,000 | €400,000 | -€50,000 | -11.1% |
| Credit institutions | 430/8 | €450,000 | €400,000 | -€50,000 | -11.1% |
| Trade debts | 44 | €977,178 | €932,147 | -€45,031 | -4.6% |
| Suppliers | 440/4 | €977,178 | €932,147 | -€45,031 | -4.6% |
| Taxes, remuneration and social security | 45 | €202,566 | €267,282 | +€64,716 | +31.9% |
| Taxes | 450/3 | €62,103 | €113,354 | +€51,251 | +82.5% |
| Remuneration and social security | 454/9 | €140,463 | €153,928 | +€13,465 | +9.6% |
| Other amounts payable | 47/48 | €9,862 | €58,000 | +€48,138 | +488.1% |
| Accrued charges and deferred income | 492/3 | €2,500 | €3,500 | +€1,000 | +40.0% |
| Remuneration, social security and pensions | 62 | €1,330,191 | €1,398,183 | +€67,992 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,680 | €147,679 | +€9,000 | +6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,125 | +€3,125 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,862 | €718 | -€2,144 | -74.9% |
| Other operating charges | 640/8 | €20,343 | €78,844 | +€58,501 | +287.6% |
| Gross operating margin | 9900 | €1,811,386 | €2,304,237 | +€492,850 | +27.2% |
| Operating profit (loss) | 9901 | €319,311 | €675,687 | +€356,376 | +111.6% |
| Financial income | 75/76B | €17,508 | €12,771 | -€4,737 | -27.1% |
| Recurring financial income | 75 | €17,508 | €12,771 | -€4,737 | -27.1% |
| Financial charges | 65/66B | €45,105 | €51,937 | +€6,832 | +15.1% |
| Recurring financial charges | 65 | €45,105 | €51,937 | +€6,832 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €291,714 | €636,521 | +€344,807 | +118.2% |
| Income taxes | 67/77 | €101,652 | €173,325 | +€71,673 | +70.5% |
| Profit (loss) for the period | 9904 | €190,062 | €463,196 | +€273,134 | +143.7% |
| Transfer from tax-exempt reserves | 789 | €63,150 | - | -€63,150 | |
| Transfer to tax-exempt reserves | 689 | - | €244,180 | +€244,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €253,212 | €219,016 | -€34,196 | -13.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.